Northeast Asia

Equity investor sentiment remains fragile as buyers become more bearish on global markets because of heightened economic tensions between the US and China. Some investors see this as the most potent risk to equity markets since the eurozone debt crisis.

Hong Kong’s Securities and Futures Commission has sanctioned a former Standard Chartered executive in Hong Kong for IPO-related offences.

Onshore DCM bankers are having a busy week in the Panda bond market. Two returning issuers have lined up onshore transactions this week, as they seek to profit from looser liquidity and falling yields in China.

Huarong Investment Stock Corp has returned to the loan market for a HK$3bn ($382m) dual currency borrowing, offering similar terms as last year.

David Zhu, a former loan syndications banker at Deutsche Bank, has joined ICBC International, GlobalCapital Asia understands.

The decision of China’s exchanges to bar mainland investors from dual-class stocks may not seem like much in the grand scheme of things, but it is the darkest moment for China's market reform path since the infamous summer of 2015.

IT service provider Lotte Data Communication is on track to raise W127.7bn ($113.5m) after pricing its IPO close to the bottom of guidance.

Renhe Commercial Holdings’ HK$2.2bn ($274.3m) rights issue was slightly undersubscribed, forcing its major shareholder to pick up the slack.

E-House China Enterprise Holdings has priced its Hong Kong IPO at the bottom of expectations, raising HK$4.6bn ($591m) at a single-digit valuation.

Chinese start-up Pinduoduo, a challenger to e-commerce giant Alibaba Group, has launched bookbuilding for an up to $1.63bn IPO of American Depository Shares.

Cango, a Chinese online marketplace for vehicle sales, has started bookbuilding for its $150m IPO on the New York Stock Exchange.

Citi has named Prosenjit Saha as head of loan sales for ASEAN and India, a newly created position to boost the bank’s loan business in the regions.